Deposit Interest Method

Interest is calculated daily and rounded to the nearest cent at the account's stated rate on the account's closing daily balance using a 365 day basis and accumulated until paid on the last business day of each month, quarter, or year as may be projected to include the last calendar day of the month. Interest is therefore paid (compounded) monthly, quarterly, or annually and available for withdrawal on the first business day of the following month.

Deposit Accounts

Type of Account

Interest

Personal Savings

0.50% Quarterly

Money Market Checking

0.25% Monthly

3-Month TCDs

1.00% annually

6-Month TCDs

1.50% annually

9-month TCDs

1.75% annually

1-year TCDs

2.0% annually

2-year TCDs

3.0% annually

***Note: TCD rates slightly decreased as of April 28, 2016***

Loan Interest Method

Each calendar day beginning with the day the loan is made interest is calculated on the unpaid loan balance. This daily interest is accumulated separately from the unpaid loan balance. Daily interest is not calculated for the day that the loan is paid in full. Payments are applied first to any accumulated late fee, then to accrued interest with any remainder applied to principal unpaid. The calculation for daily interest is: Principal � Interest Rate � Number of Days � 365.